Opportunities and Threats Are Environmental Conditions External to the Firm

question 26

Essay

Opportunities and threats are environmental conditions external to the firm. Drawing on any environment you like, provide two examples of opportunities and two examples of threats that may impact an organization.

Identify the roles of negotiable instruments in overriding privity rules and their impact on assignments.

Recognize the importance of equitable principles in contract law, including undue influence, misinterpretation, and the unconscionable bargain doctrine.

Understand the main sources of household income.

Describe the impact of economic conditions on transfer payments.

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Definitions:

Business Strategy

A plan developed by an organization to achieve sustained competitive advantage and successfully compete in the market.

Organizational Conflict

Disagreements or frictions within an organization arising from opposing interests, goals, or values among its members.

Team Wavelength

The extent to which team members are in sync with each other, sharing a common understanding and seamless communication.

Marketing Orientation

A business approach that focuses on identifying and meeting the needs and desires of customers through product innovation and market research.